The spring is a good time to review how much you want to put into a personal pension.

If you have had a good year and you anticipate paying higher rates of tax, then putting contributions into a personal pension can reduce your exposure to these higher rates of tax.

But the payments must be made before 6 April and it’s not sufficient just to have the cheque in the broker’s hand by then. It must have been received by the pension company.

If you are a director of your own limited company then it may be more tax efficient for the company to contribute directly to your pension. This contribution needs to be made before the company year end in order to get tax relief in the company in that year.

If you are not sure what is best, speak to an IFA.



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